Phycin, a biotech startup in Maryland, United States, has raised $400,000 from The Maryland Stem Cell Research Fund to aid in developing and commercializing algae proteins for medical care and the food market. Phycin’s scientists are examining the application of algae proteins as growth factors to produce different kinds of cultivated meat products, such as cultivated beef, pork, chicken, and seafood.
"We are in the transition from technology to commercialization for a startup. I think government support is very important to prepare us for the real commercialization effort.” - Jun Wang, CEO, and founder of Phycin.
Phycin is using a specific algae called Chlamydomonas reinhardtii, which is thought to be more sustainable, affordable, and safer according to the company. Israeli biotech startup Mermade has implemented this same approach, using algae as growth media to produce cultivated seafood.
Image Credit: Aliga.dk
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